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Silicon Valley Bank Agents Ixia’s New $100MM Facility

March 04, 2015, 07:20 AM
Filed Under: Technology

Ixia announced that it has amended its existing credit agreement and secured a new three-year, $100 million credit facility. Effective March 2, 2015, the company’s credit agreement provides for a revolving credit loan of up to $60 million and a term loan of up to $40 million. The credit facility also includes an accordion feature, which allows the company to request an increase of up to $80 million in the lenders’ total commitments under the credit facility, potentially increasing the total amount available under the credit facility to up to $180 million. Any increase under the accordion feature would be subject to the receipt of increased commitments from one or more participating or new lenders.

Silicon Valley Bank serves as the administrative agent and, together with Regions Bank, acted as co-lead arranger under the amended credit agreement. Participating lenders include Cadence Bank, N.A., Barclays Bank and Stifel Financial Corp.

Ixia provides application performance and security resilience solutions to validate, secure, and optimize businesses’ physical and virtual networks. Enterprises, service providers, network equipment manufacturers, and governments worldwide rely on Ixia’s solutions to deploy new technologies and achieve efficient, secure, ongoing operation of their networks. Ixia's powerful and versatile solutions, expert global support, and professional services equip organizations to exceed customer expectations and achieve better business outcomes.

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